HDFC Bank Non-Resident Ordinary (NRO) Savings Account

To park their savings that they have earned abroad, Non-Resident Indians (NRIs) can open the HDFC Bank Non-Resident Ordinary (NRO) Savings Account either online or at any branch of the bank across the country. With the HDFC Bank Non-Resident Ordinary (NRO) Savings Account, customers can make withdrawals and transactions in India, can make fund transfers and so on. The interest earned over the HDFC Bank Non-Resident Ordinary (NRO) Savings Account deposits are subject to TDS (Tax deducted from source).

On opening the account, customers are granted the EasyShop NRO debit card. With this debit card, NRIs can make withdrawals at ATMs and transaction at either retail or online merchant establishments across the country.

Customers holding the HDFC Bank Non-Resident Ordinary (NRO) Savings Account can also choose to make it a joint account with an Indian resident.

NRIs can carry out a number of banking processes with the help of HDFC Bank’s 24/7 net banking facility.

Customers can also use HDFC Bank’s phone banking facility to manage their accounts.

Through this NRO saving account, customers can pay utility bills, make DTH top-ups, make prepaid recharges and so on.

Customers are granted a personalised cheque book when opening the account.

Customers can make nominations as well. The nominated beneficiary can operate the account following the untimely death of the account holder.

NRIs can transfer funds from abroad to this NRO saving account. The transferred funds can be utilised in Indian rupees with the help of the free convertible foreign currency facility.

Customers can remit funds from any overseas bank to the NRO savings account.

They can also transfer funds from their NRE (Non-Resident External) account or FCNR (Foreign Currency Non-Repatriable) account.

Customers can keep track of the status of their funds in the NRO savings account with the help of the free email bank statement facility.

The interest earned over the principal amount in the account is subject to TDS (Tax deducted from source). To reduce the TDS from the interest accrued, customers can avail the Double Taxation Avoidance Agreement (DTAA) facility.

Eligibility for HDFC Bank Non-Resident Ordinary (NRO) Savings Account

All Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) are eligible for this NRO savings account offered by HDFC Bank.

HDFC Bank Non-Resident Ordinary (NRO) Savings Account FAQs

1. What is the minimum initial deposit amount to open a HDFC Bank Non-Resident Ordinary (NRO) Savings Account?

Customers have to make an initial deposit of Rs.10,000 when opening this NRO savings account. In addition, customers need to maintain a minimum average monthly balance of Rs.10,000 to avoid a penalty for non-maintenance.

This NRO savings account offered by HDFC Bank is maintained in Indian rupees.

3. Can I use foreign currency or travellers cheques to open this account?

Yes, you can use foreign currencies or travellers cheque to make the initial deposit to open the HDFC Bank Non-Resident Ordinary (NRO) Savings Account. If in case the deposit exceeds $5,000 or the travellers cheques surpasses $10,000, then you would need to submit a Currency Declaration Form (CDF) to the customs on arrival in the country. This form will then have to be submitted at the bank when opening the account.

4. Can I open a joint HDFC Bank Non-Resident Ordinary (NRO) Savings Account?

Yes, you can open a joint account either with an Indian resident or an NRI. The secondary account holder can also carry out banking transactions from the account once you have submitted a letter of mandate to the bank.

5. When opening this NRO savings account, is it possible for me to transfer money from my NRE account to make the initial deposit?

Yes, you can transfer money from your NRE savings account to the HDFC Bank Non-Resident Ordinary (NRO) Savings Account as an initial deposit.

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.